In a high of over three weeks his prices climbed on Thursday crude oil, as the Trump government announced a dramatic escalation of economic pressure on Iran, with US Finance Minister, Scott Bessend, to address the «Harder sanctions in history».
Its future performance contracts Brent They were strengthened by $1.94 or 2.1%, at $93.56 a barrel, recording the highest level since July 24. The American WTI September delivery earned $2.18 or 2.5%, at $88.01 a barrel, also at the highest level since July 24.
The new rise came after the US President's threats Donald Trump for «economic war and isolation on an unprecedented scale» against Tehran, but also for consequences in any country that continues to offer financial support to Iran.
Bessend raised even more tones Thursday, telling CNBC that Washington intends to impose on Iran an unprecedented economic pressure regime.
«We have the blockade and we will impose the toughest sanctions in history», stated. «This will work. It worked in Venezuela when we imposed the blockade. It works in Cuba right now and will work in Iran, and we will break this regime».
American Finance Minister also announced that on Monday he will hold a press conference, at which he will detail Trump's plan to conduct «Economic warfare» against Iran.
Trump had pre-announced Wednesday through Truth Social «the biggest economic undertaking ever carried out against any country», warning that any state continuing to trade with Tehran will face economic consequences.
The warning inevitably turns interest to China, the largest importer of Iranian crude oil. According to StoneX's energy analyst, Alex Hodes, threats against countries that maintain economic relations with Iran could evolve into a new sensitive front in Washington-Bekinou relations.
Bessend: Market misinterprets Trump
Despite the market reaction, Bessend argued that investors misinterpret the American President's message, as the choice of maximum economic pressure could, in his view, reduce the possibility of reopening large-scale military operations.
«I'm not sure why the oil went up with this news.», report. «If we exert the maximum economic pressure possible, then this means that there will probably be no reopening of large-scale military operations».
The market, however, continues to focus on the risk of further restriction of supply from the Middle East, after nearly six months of war. The American and Israeli attacks on Iran, the blockade of the Straits of Ormuz from Tehran and the attacks on energy installations in the region have caused serious disruptions to international oil and gas flows.
«Tensions in the Middle East remain high, leaving room for further disruptions in supply», said Giovanni Staunovo of UBS, adding that lower exports from the Middle East are re-tightening the oil market.
Movement through the Straits of Hormuz remained on Wednesday far below levels prior to the war. Prior to the start of hostilities, quantities corresponding to about one fifth of world oil consumption were traded through the critical maritime route.
New pressure from the United Arab Emirates
Additional pressure in Tehran is exerted by the United Arab Emirates, one of Iran's most important trading partners, which announced the suspension of all trade, financial and economic transactions with Iran until further notice.
The decision followed the Emirates' announcement that two ballistic missiles were launched from Iran to their territory. The Iranian Foreign Ministry spokesman, Esmail Bagay, denied that Tehran carried out the attacks.
The UAE move is intensifying the economic isolation of an Iran already faced with extensive American sanctions and further removes the prospect of a new ceasefire agreement.
Την ίδια στιγμή, ο πόλεμος έχει επηρεάσει και την προσφορά διυλισμένων καυσίμων, καθώς λιγότερο αργό φτάνει στα διυλιστήρια. Στις ΗΠΑ, τα αποθέματα αποσταγμάτων, στα οποία περιλαμβάνονται το ντίζελ και το πετρέλαιο θέρμανσης, μειώθηκαν για τρίτη συνεχόμενη εβδομάδα, σύμφωνα με την EIA, αν και τα αποθέματα αργού αυξήθηκαν απροσδόκητα κατά 4,4 εκατ. βαρέλια.
Με την Ουάσιγκτον να προετοιμάζεται να αποκαλύψει τη Δευτέρα τα επόμενα μέτρα κατά της Τεχεράνης, η αγορά πετρελαίου βρίσκεται αντιμέτωπη με ένα νέο δίλημμα: από τη μία, η μέγιστη οικονομική πίεση μπορεί να περιορίσει τον κίνδυνο νέας στρατιωτικής κλιμάκωσης, όπως υποστηρίζει ο Μπέσεντ· από την άλλη, οι ακόμη αυστηρότερες κυρώσεις και η πίεση προς τους εμπορικούς εταίρους του Ιράν μπορούν να περιορίσουν περαιτέρω τις διαθέσιμες ποσότητες ιρανικού πετρελαίου και να διατηρήσουν τις τιμές σε υψηλά επίπεδα.
Read more financial news in Newmoney. gr
